According to the Bureau of Labor Statistics, 4.3 million Americans quit their jobs in December. At the time, there were more than 10.9 million open jobs. Burnout, the need for greater flexibility, job satisfaction and employer responsiveness and accountability rank high on their list of reasons for leaving. This discontent has created an urgent need for employers to better understand the workforce and develop more tailored talent retention strategies. As an example, employers must now ask: Would an employee prioritize a flexible schedule or childcare benefits over a higher salary?
Naturally, companies that are nimble and adapt will be better positioned to compete for top talent. To achieve this level of agility, companies must expand their people strategy beyond human resources and seek coordinated input, buy-in and attention from the entire leadership team. Critical questions for leaders to ask themselves include:
- What is the overall sentiment and attitude among our workforce?
- Are we cultivating an environment that provides for our employees?
- Is our company providing resources tailored to the needs of individual employees?